analyzeportfolio
NYSE · Industrials

WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP (WAB)

As-reported financials and SEC filings for WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

Wabtec Corporation manufactures and services technology-based locomotives, equipment, systems, and services primarily for the global freight rail and passenger transit industries. Its products include diesel-electric locomotives, rail control systems, braking equipment, and digital intelligence solutions, serving customers such as railroads, transit authorities, and equipment manufacturers. The company operates through two segments: Freight, which focuses on locomotives and aftermarket services, and Transit, which provides components and services for passenger transit vehicles.

Snapshot

Revenue
$11.17B
Revenue growth (YoY)
7.5%
Net income
$1.17B
Diluted EPS
$6.83
Gross margin
34.1%
Operating margin
16.1%
Net margin
10.5%
FCF margin
13.4%
ROE
10.5%
net income / fiscal-year-end equity
P/E
38.5×
trailing when available, otherwise FY EPS
Market cap
$47.26B
Long-term debt / equity
0.38×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Westinghouse Air Brake Technologies

  • Revenue grew 7.5% to $11.2B in FY2025, in line with the 7.3% the year before.
  • Operating margin is 16.1% in FY2025, +4.9 pp against 11.2% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $3.2B, up 17.5% from Q2 FY2025.
  • Free cash flow was $1.5B in FY2025, 13.4% of revenue.
  • Net income rose 10.8% to $1.2B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Westinghouse Air Brake Technologies’s fundamentals sit among the 684 Industrials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin34.1%
62nd percentile of 466
Operating margin16.1%
81st percentile of 605
Net margin10.5%
76th percentile of 645
FCF margin13.4%
81st percentile of 562
Revenue growth (YoY)+7.5%
59th percentile of 668
ROE10.5%
61st percentile of 600
P/E38.5×
77th percentile of 434
Long-term debt / equity0.38×
41st percentile of 409
Short interest3.01d
45th percentile of 676

No reported insider purchases (code P) in the last 90 days; 37 insider sales totaling $7.6M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+5 quant / multi-strat
Initiated / added
6
1 new, 5 added
Reduced / exited
3
2 trimmed, 1 exited
Combined position
$493.7M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$369.6M1.4MAdded
Two Sigma InvestmentsquantQ2 2026$29.8M110.6KReduced
Citadel AdvisorsquantQ2 2026$26.6M98.5KAdded
Millennium ManagementquantQ2 2026$25.7M95.3KAdded
Gotham Asset ManagementQ2 2026$16.4M60.8KAdded
Duquesne Family OfficeQ2 2026$15.3M56.6KReduced
D. E. ShawquantQ2 2026$7.2M26.8KAdded
Bridgewater AssociatesQ2 2026$3.2M11.7KNew

No longer held by: Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
37
$7.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-21
filed 2026-08-24
Mendonca RogerioPresident, Equipment GroupSell2.9K$297.05$864K
2026-08-21
filed 2026-08-24
Mendonca RogerioPresident, Equipment GroupSell9$296.24$3K
2026-08-20
filed 2026-08-21
Fetsko MichaelPres., Freight Components Grp.Sell3.0K$293.16$868K
2026-08-20
filed 2026-08-21
Fetsko MichaelPres., Freight Components Grp.Sell288$293.84$85K
2026-08-17
filed 2026-08-18
Sbrocco GregoryEVP OperationsSell952$300.00$286K
2026-08-05
filed 2026-08-06
Santana RafaelPresident and CEOSell518$297.05$154K
2026-08-05
filed 2026-08-06
Santana RafaelPresident and CEOSell397$296.14$118K
2026-08-05
filed 2026-08-06
Santana RafaelPresident and CEOSell194$298.26$58K
2026-08-05
filed 2026-08-06
Santana RafaelPresident and CEOSell54$298.85$16K
2026-08-04
filed 2026-08-06
Santana RafaelPresident and CEOSell629$299.70$189K
2026-08-04
filed 2026-08-06
Santana RafaelPresident and CEOSell334$298.90$100K
2026-08-04
filed 2026-08-06
Santana RafaelPresident and CEOSell120$297.68$36K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
2.8M
settled 2026-08-14
Change vs prior
-27.2%
vs previous settlement
Days to cover
3.01
at avg daily volume
Avg daily volume
926.7K
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-142.8M-27.2%3.01
2026-07-313.8M+13.4%3.00
2026-07-153.4M+12.2%4.95
2026-06-303.0M-0.4%2.98
2026-06-153.0M+1.3%4.10
2026-05-293.0M+5.3%3.06
2026-05-152.8M-5.5%2.92
2026-04-303.0M+20.4%2.91

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$11.17B$10.39B$9.68B$8.36B$7.82B
Gross profit$3.81B$3.37B$2.94B$2.54B$2.37B
Operating income$1.79B$1.61B$1.27B$1.01B$876.0M
Net income$1.17B$1.06B$815.0M$633.0M$558.0M
Diluted EPS$6.83$6.04$4.53$3.46$2.96

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.76B$1.83B$1.20B$1.04B$1.07B
Capital expenditure$260.0M$207.0M$186.0M$149.0M$130.0M
Free cash flow$1.50B$1.63B$1.01B$889.0M$943.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$3.18B17.5%$395.0M$2.33
Q1 FY2026$2.95B13.0%$362.0M$2.12
Q4 FY2025$2.96B14.8%$202.0M$1.18
Q3 FY2025$2.89B8.4%$310.0M$1.81
Q2 FY2025$2.71B2.3%$336.0M$1.96
Q1 FY2025$2.61B4.5%$322.0M$1.88
Q4 FY2024$2.58B2.3%$212.0M$1.23
Q3 FY2024$2.66B4.4%$283.0M$1.63

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorIndustrials
SIC industryRailroad Equipment
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2018
SEC CIK943452

Selected SEC filings

10-K2026-02-13
View on EDGAR →
10-K2025-02-12
View on EDGAR →
10-Q2026-07-22
View on EDGAR →
10-Q2026-04-22
View on EDGAR →
10-Q2025-10-22
View on EDGAR →
10-Q2025-07-24
View on EDGAR →
8-K2026-07-22
View on EDGAR →
8-K2026-05-15
View on EDGAR →

Largest Industrials peers

All Industrials companies →

Monitor WAB

Get an alert when Westinghouse Air Brake Technologies files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor WAB free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.